Nintendo to announce Switch successor in this fiscal year as profits rise

Nintendo has sold more than 141 million Switch machines.FILE - This photo shows a balloon of the Mario character of Mario Bros. during an event in Tokyo, on Feb. 15, 2024.7:42 PM CDT May 7, 2024

“We will make an announcement about the successor to Nintendo Switch within this fiscal year. It will have been over nine years since we announced the existence of Nintendo Switch back in March 2015,” the company's president, Shuntaro Furukawa, said in a statement. Nintendo’s net profit for the fiscal year through March 2024 totaled 490.6 billion yen , up from 432.7 billion yen in the previous fiscal year. Annual sales rose 4% to 1.67 trillion yen , nearly 80% of it from outside Japan.

Nintendo, which did not break down quarterly numbers, was less optimistic about its financial results for the fiscal year through March 2025, forecasting net profit to fall to 300 billion yen .

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